For sure it is, if Fortune wills to flee, / No man may stay her course or keep his hold.
Every 4th of July, almost all American cities sponsor a fete that includes a fireworks display to celebrate American independence.
A fete is a French word which basically means a celebration, party.
C.Tom Wolfe
He started in 1973 ''The New Journalism''
I think the answer is gerund not a participle.